"One Belt-One Road is a gigantic infrastructure of China to linkup Asia with Europe and Africa and this project has already been successfully initiated from Pakistan," said Wang Zihai, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) Lahore. He was addressing a meeting at Faisalabad Chamber of Commerce and Industry (FCCI) which was also attended by the business community as well as the students of Chinese language course.
He said that in first phase of CPEC (China Pakistan Economic Corridor), a comprehensive road network has been laid form Khanjrab to Gwadar. In its second phase work was in progress for the erection of power plants throughout Pakistan, he added. He particularly mentioned 1320MW coal power plant and said that with its completion the menace of loadshedding will be eliminated once for all in 2018. He said that Pakistan and China have inked 46 MOUs in different segments of economy while during fourth phase of this project, industrial co-operation will be enhanced. He termed it as one of the most important segment of the CPEC project as governments as well as the private sectors of the two countries have to play their role for its successful execution.
He said that governments will have to take decision that during this phase which industry should be installed. However, in this connection the private sector has to enter into joint ventures to establish the most required and agreed industry.
He said that Pakistan is a cotton producing country and hence it has huge potential to set up garment industry and hoped that in this connection the businessmen of both countries will cooperate for their mutual benefits. He also stressed upon the need to ink a MoU with FCCI so that the Chinese delegations visiting Pakistan could also visit Faisalabad and interact directly with business community of its businessmen. He also invited FCCI delegation to visit PCJCCI, Lahore.
Responding to a question, Salah Uddin, General Secretary PCJCCI told that only upper and upper-middle class management from China will come to Pakistan for the execution of different projects in Pakistan.
He further told that PCJCCI has already launched different programmes in collaboration with TEVTA to impart much needed training to the semi skilled and unskilled workers so that they could be accommodated in the joint ventures to be launched in near future. Responding to yet another question, he said that Chinese language and cultural barriers are major hindrance in the economic co-operation of two countries at the private level and in this connection the PCJCCI has published a dictionary containing 10,000 frequently used words in Chinese.
Continuing, he said that apart from the investment of 55 billion dollars under CPEC project, another 100 billion investment form private sector is also in the pipeline and the Pakistani entrepreneurs should play their proactive role to attract maximum investment.
Earlier, Engineer Saeed Sheikh, President FCCI briefly introduced Faisalabad and FCCI and said that investment of US 55 billion dollars has laid down a solid foundation for the economic and sustained co-operation between the two countries. He hoped that two countries will launch maximum joint ventures which will generate economic activity and play a key role in weeding out poverty form this part of the world.
He told that in view of the enhanced economic relations, FCCI has launched Chinese language course which will bolster this relationship in the coming years. He also thanked Wang Zihai for extending co-operation to launch the Chinese language course in FCCI. He said that Faisalabad has also unique privilege to set up first CPEC Cell of the country that is analyzing the huge potential of this project.